Knit the Rainbow Inc

Nonprofit profile at a glance

EIN: 850766917
IRS 990-EZ coverage: 2023–2025
Forms available: Form 990-EZ 2025
Location: New York, NY, USA
Phone: 3322098058
Rating: 85
Verdict: STRONG
Rating confidence: Moderate
Sector: Homeless Centers

Official website

Reported finances

Revenue: $56,077
Expenses: $67,171
Assets: $16,836
Liabilities: $0

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

Austin Rivers (CEO/Chair)

People named in this filing

Austin Rivers (CEO/Chair)
Russell Brent (Treasurer)
Robyn Hill (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Knit The Rainbow (KtR) is a nonprofit organization founded in April 2020 by Austin Rivers, driven by the mission to address the housing disparities faced by LGBTQ+ youth in New York City. Knit The Rainbow (KtR) is a nonprofit organization with a mission to address the housing disparities faced by LGBTQ+ youth in New York City, providing essential warmth, love, and compassion through handmade knit and crochet winter garments.

What it reported doing in 2025

In 2025, KtR conducted various activities to fulfill its mission, making a significant impact on the lives of homeless and at-risk LGBTQ+ youth. Activities Conducted in 2025: Distribution of Handmade Winter Garments: KtR successfully distributed 9,000 handmade knit and crochet winter garments to homeless and at-risk LGBTQ+ youth in New York, New Jersey, Chicago, and Detroit. These garments provided physical warmth and conveyed a message of care and support to the vulnerable youth. Community Events: NYC Days of Action: In New York City, KtR organized two Days of Action, uniting volunteers in collective efforts to address the housing disparities and create positive change for LGBTQ+ youth in need. NYC Stitch & Sips: KtR hosted a Stitch & Sip event in NYC, providing a relaxed and creative space for volunteers to unite, share their passion for knitting and crocheting, and contribute to the cause. Knit the Future Panel Discussions: The Knit the Future program initiated panel discussions that facilitated important conversations surrounding Diversity, Equity, Inclusion, and Justice in fiber arts. These discussions fostered understanding and encouraged progressive actions within the fiber arts community. Community Outreach: KtR provided five beginner knit and crochet classes to LGBTQ+ youth in New York City. Teaching LGBTQ+ youth how to knit and crochet in group classes fosters a sense of community, creativity, and empowerment while providing a supportive space for self-expression and connection. Through these diverse activities, Knit The Rainbow successfully expanded its reach, increased awareness about the housing crisis faced by LGBTQ+ youth, and fostered a supportive community dedicated to making a positive impact. These efforts align with KtR's commitment to fulfilling its mission and vision of providing warmth, education, and hope to homeless and at-risk LGBTQ+ youth nationwide.

Operating model

Revenue model: Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model: Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

Financial Efficiency: 97
Transparency & Controls: 82
Sustainability: 31
Growth: 40

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 100%; rating input score 100
Program expense ratio: 91.1%; rating input score 91

Transparency & Controls

Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
Major donor itemization: Limited

Sustainability

Operating margin: -19.8%; rating input score 22; 22nd percentile among comparable filings
Total-asset coverage ratio: 0.25; rating input score 21; 21st percentile among comparable filings
Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

Program expense growth: 7.8% per year; rating input score 100; 67th percentile among comparable filings
Revenue growth: -32.1% per year; rating input score 0; 10th percentile among comparable filings
Asset growth: -43.8% per year; rating input score 0; 5th percentile among comparable filings

Details

Where the money goes: 100% of revenue deployed · 91.1% of spending went to programs
Governance: Filed governance answers
Accomplishments: 1 filed program accomplishment · $61K in reported program spending
Leadership: top reported pay $0 · 6 people listed
Consistency: 9 of 9 current checks pass
Schedules: 2 filed schedules
Filing history: 3 filing years from 2023 to 2025
Contacts: How to reach this organization
Money network: Resolved incoming and outgoing counterparties from filed money flows.
Related organizations: Filed and resolved organization relationships.
Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

High — Growth: Revenue growth scored 0/100.
High — Sustainability: Operating margin scored 22/100.
High — Sustainability: Total-asset coverage ratio scored 21/100.
High — Growth: Asset growth scored 0/100.
Review — Sustainability: Officer compensation ratio scored 56/100.